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National Semi completes cordless business sale

Posted: 29 Jun 2005 ?? ?Print Version ?Bookmark and Share

Keywords:cordless? HgCapita? baseband? radio transceivers? basestations?


National Semiconductor Corp. has closed the sale of its cordless business unit to HgCapital, a private equity investor based in London, U.K. The sale of the unit, which was initially disclosed in May 17 with the signing of a definitive agreement, is consistent with National's ongoing focus on core analog businesses.

The business unit's products include baseband and radio transceivers for cordless telephones and basestations as well as cordless voice modules.

Pursuant to the sale, HgCapital acquired intellectual property and assets of the cordless unit and about 70 employees based in 's-Hertogenbosch and Hengelo, The Netherlands. National will continue to provide manufacturing, sales and infrastructure support during a transition period.

National and HgCapital announced on May 17 that they had signed a definitive agreement on the transaction and, further, that they anticipated to close the deal during the first quarter of National's 2006 fiscal year, which started May 31, 2005.

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